Chalice Mining Limited has outlined a detailed development plan for its 100% owned Gonneville PGE-Ni-Cu-Co Project in Western Australia, highlighting significant progress in both environmental modelling and regulatory approvals. The project, located approximately 70km northeast of Perth on Chalice-owned farmland, will evolve from an initial smaller throughput operation during its first four years to an expanded capacity from year five, up to an overall modelled process throughput rate of 15Mtpa across a 25-year open pit life. The company’s developmental strategy features a two-stage approach, with Stage 1 designed to maximize short-term returns and minimize capital payback, and Stage 2 positioned for long-term strategic value and profitability through evolving market cycles. Technical progress within the project is robust, with the Pre-Feasibility Study (PFS) on track for completion in Q4 2025 and draft Environmental Review Documents scheduled for submission in mid-2026. The conceptual site layout, finalized to support environmental impact modelling by consultancy GHD, incorporates industry-standard techniques such as single-stage comminution, sequential flotation to produce separate concentrates, magnetic separation for an iron by-product, and CIL leaching for precious metals doré. Supporting infrastructure is well advanced, with a Letter of Intent in place to secure treated wastewater from Water Corporation’s Alkimos Facility via a dedicated pipeline, while investigations into hybrid solar/battery power and long-term power purchasing agreements are underway. With cash and listed investments totaling A$83 million as of 31 March 2025, Chalice Mining Limited confirms it is fully funded through to the Final Investment Decision targeted for late 2027. The project also enjoys strong governmental support, having been awarded ‘Strategic Project’ and ‘Major Project’ status by both Western Australian and Commonwealth Governments. Environmental management emerges as a priority, with field surveys, a Biodiversity Strategy aimed at no net loss of species or habitat, and collaborative ecological restoration initiatives already in progress. The strategic positioning of the Gonneville Mineral Resource—a large-scale, tier-1 greenfield discovery featuring palladium, platinum, nickel, copper, and cobalt—highlights its importance in addressing critical mineral needs for decarbonisation, urbanisation, and defence technologies. Market sentiment based on this announcement presents both bullish and cautious perspectives. On the bullish side, the clear progress toward key development milestones, strong financial backing, and secured water supply arrangements combine with strategic governmental endorsements to position the project as a potentially high-return investment in the minerals sector. Conversely, there is caution around the timelines for regulatory approvals and environmental assessments, and inherent technical risks remain associated with the scaling of mining operations and evolving market conditions for metals. This balanced view underscores the strategic opportunity offered by the Gonneville Project while acknowledging the typical uncertainties in the mining and critical minerals industry.